NZD/USD Signal Update
Yesterday’s signals were not triggered.
Today’s NZD/USD Signals
Risk 0.50%
Trades may only be taken from 8am New York time to 5pm Tokyo time, over the next 24 hours.
Long Trades
Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7153 or 0.7119.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trades
Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7238 or 0.7305.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
NZD/USD Analysis
Although it looks as if this pair is about to print a triple top just under the anticipated resistance level of 0.7238, the recent leg up was quite strong and solid so I would be careful of assuming the price will turn around and fall here back down to the next support.
The long-term trend remains bullish.
Concerning the NZD, there will be a release of GDT Price Index data during early New Zealand business hours. There is nothing due regarding the USD.